Development near Poinciana SunRail site approved by Osceola County commissioners

POINCIANA, Fla. - A controversial project planned for Osceola County is one step closer to becoming a reality.

On Monday, Feb. 5, commissioners voted unanimously to sell a parcel of land near the Poinciana SunRail site to a company with plans to construct a "green energy technology park." 

Per the acquisition and development agreement, the property transfer will roll out in phases. The initial phase includes about 10 acres, with a purchase price of $850,000. Upon completion, the entire agreement could be worth more than $5.3 million for the county’s 63 acres.

The company buying the property, Panacea Global Energy Incorporated, intends to build a green energy technology park with multiple renewable energy facilities.

The first site proposed by Panacea for their energy project was Mac Overstreet. It drew strong objections from the community. The back-and-forth lasted about seven months, said Brandon Arrington, District 3 Commissioner.

"I’m so excited that we’ve come to a good agreement that I think has good directive timelines and holds the company accountable to what we’re hoping to see there as well," Arrington said.

Panacea projects to create 1,200 new jobs, but some residents, like Eric Montgomery, worry they won’t be filled by locals.

"There’s no county residency requirements, so they could be living anywhere in the area," Montgomery said. "I don’t know if it’s legally allowed to require some percentage of county residents, but I would appreciate if that could be added."

Despite pushback on location, employment, and environmental concerns, the board voted on Monday to approve the sale of the new site to Panacea. Monday night’s vote greenlit the first step for the energy project. A promising asset to the future of the county, said Ricky Booth, District 5 Commissioner.

"If we stick our head in the sand, it could be Valdosta, Georgia, or Houston, Texas, somebody else is going to do it; that’s just the way of the world right now," Booth said. "I am philosophically opposed, but we want to get these high-wage jobs into our community."

Per the agreement, Panacea will have to start construction on each parcel of property no later than six months after closing. The Delaware corporation will also have to prove financial capability for each phase moving forward.